i) A better economy introduces rapid development of the capital market.
ii) Standard of living has increased.
iii) Globalization rapidly increases better trade so that more people are employed.
iv) Introduced new technologies and new scientific research patterns
v) Globalization increases the GDP of a country.

TRIPs:
i) TRIPS means Trade Related aspects of Intellectual Property rights.
ii) Under TRIPS patent shall be available for any invention whether product or process in all fields of industrial technologies.
iii) TRIPS agreement covers seven areas of intellectual's property rights.
TRIMs:
i) Trade Related Investment Measures include restrictions or conditions given by Government.
ii) It refers to restrictions imposed by a government in respect of foreign investment in the country in order to give adequate provisions for the home industries to develop

(i) To set and enforce rules for international trade.
(ii) To provide a forum for negotiating and monitoring further trade liberalization.
(iii) To solve trade disputes.
(iv) To increase the transparency of decision making processes. 

i) The benefits of globalization extend to all countries that will not happen automatically.
ii) The fear that globalization leads to instability in the developing world.
iii) The industrial world that increased global competition will lead in race to the bottom in wages, labour right and employment practice.
iv) It leads to global imbalance.
v) Globalization has resulted with the embarrassment
vi) Globalization has led to an increase in activities such as child labour and slavery.
vii) Consumption of more junk food that led to the degradation of health and spread of disease.
viii) Globalization has led to environmental degradation

The term of 'Globalization' was introduced by Prof. Theodore Levitt. Globalization is the integration of Accountry with the world economy. Basically, globalization signifies a process of internationalization plus liberalization. The history of globalization can be discussed on three stages.
Archaic Globalization:
i) During the Hellenistic age an early form of globalization existed. It was known as Archaic globalization.
ii) The trade link between Roman empire, Parthian empire and Han dynasty made commercial links between these powers and inspired the development of the Silk Road.
iii) The Islamic age and the advent of Mongol empire facilitated travel along silk road. This pre-modern phase is known as archaic globalization.
Proto Globalization:
i) This phase was characterized by rise of maritime European empires like the Portuguese, the Spanish, the Dutch and the British empires.
ii) Globalization became private business phenomenon.
iii) The English East India Company was the first multinational company followed by the Dutch East India Company.
Modern Globalization:
i) The 19^th century witnessed the advent of Globalization approaching its modern form.
ii) The global trade in the 20" century shows a higher share of trade in merchant production, a growth of the trade in services and the rise of production and trade by multinational firms.